Sramana Mitra: When you win big deals with enterprise customers, what is it that allows you to win these deals? Steven Boye: It is typically the quality of our products. Everybody that we compete with, they are currently Dropbox or Box users. Most of them are. For some reason, they like our solution better. Sramana Mitra:
Sramana Mitra: How many telcos do you have as customers today? Steven Boye: I think we have three today. AT&T is the biggest. What we’ve learned is that telcos are hard to work with. They are good once they engage, but it’s really a long sales cycle. In the years since, several things have happened.
Sramana Mitra: That brings us to what? Steven Boye: Now we come up to 2006. We actually got funding from a company called Clearstone Venture Partners in LA. During 2006 to 2008, we also got Intel Capital and Cisco as strategic investors. Now, we started getting real money to build the company. Sramana Mitra: What was
Sramana Mitra: How do you position against a Huddle? We’ve done the Huddle story for instance. SharePoint is a well-known product. Tell me how you position against each of them. The reason I ask you is because we try to give our readers a lot of exposure on positioning. If you could help us think
Sramana Mitra: £50,000 is a high-touch sale. Ajay Patel: It’s a high-touch sale. When I look at the customer lifetime value, that’s what’s actually impressive. We’ve compared sales. Who are the clients we’ve had in January 1, 2012? What do they make? What do the same clients make in January 2013? Our average cohort is 25%.
Ajay Patel: The vision was to build our own deal room or file sharing application and then license that to the legal industry. We put in our savings, which amounted to $30,000 and started HighQ. To this day, it is still a bootstrapped company. Having no money meant no salary, but it also meant that you had
Continuing with our Bootstrapping Using Services theme, we bring you a story from London. Sramana Mitra: Let’s start with some back story. Where are you from? Where were you born and raised? What kind of background? Ajay Patel: I was born in London about 42 years ago. I’ve lived here all my life. My origins
Sramana Mitra: If we keep on this model where everything is going to be free, then the whole economic structure of capitalism is going to get destroyed. Then, when people who are supposed to provide these services disappear or go out of business, we’re going to be left with an economy full of holes. Vineet